Show HN: BlockRun - Bitcoin auctions on the blockchain

by Darraghb • 13 years ago

3 2 13 years ago

Darraghb2• 13 years ago

We've just launched http://www.blockrun.com , a play on penny auctions built on top on the blockchain.

- Each auction has its own bid address

- Auctions last for a certain number of blocks - When blocks reach 0, each new bid extends the auction by 3 blocks

- There needs to be 3 empty blocks for a winner to be declared (no bids for 3 consecutive blocks released by the Bitcoin network)

- The highest bid wins (we send winning, and losing transactions when you have been outbid)

- Winner creates a signed message to confirm they own the winning Bitcoin address

We're always looking to improve, so if anyone has any feedback (e.g. "WTF is this, how does it work??), or thoughts are much appreciated :-)

Darraghb2• 13 years ago

First is auction about to end!

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